Wavell Heights: The Inner City Brisbane Suburb to Build or Buy

22A-Bayview-Wavell_Heights

BRISBANE, QUEENSLAND, AUSTRALIA, December 18, 2024 /EINPresswire.com/ -- Brisbane Buyers' Agency, led by Paul Palella, has been helping home buyers navigate the complexities of the property market in Brisbane for many years. Here, we discuss the options within a northern suburb of Brisbane that's been heating up in 2024. 

Wavell Heights is a sought-after suburb in Brisbane that presents homeowners with a compelling choice: purchase a turnkey new home or embark on a knock-down rebuild project. This decision hinges on a careful evaluation of individual needs, budget, and lifestyle preferences.

The Case for New Homes

New homes in Wavell Heights boast modern designs, high-quality finishes, and immediate occupancy. Recent sales data reveals an average price of approximately $2.57 million for these properties.

Examples

22A Bayview Terrace - 5bed, 3bath, 3car, $2,750,000
29 Zeehan Street - 5bed, 3bath, 3car, $2,350,000
19 Tabulam Street - 5bed, 2bath, 2car, $2,600,000

These properties cater to buyers seeking convenience and a contemporary lifestyle, willing to pay a premium for a turnkey solution.

The Allure of Knock-Down Rebuilds

For those seeking a personalised living space, a knock-down rebuild offers a unique opportunity. 

David Farrer, Director of Sales and Business Development at McCarthy Homes, provides valuable insights into current construction costs:

“Currently, construction costs on a (turnkey) build with a typical size of 380m² would be approximately $2,700 per m². Such a price would encompass premium finishes and is based on a relatively flat site.” For a 380m² home, this equates to an estimated build cost of $1.026 million along with an additional average cost of $70,000 to accommodate landscaping and pool inclusion, making building a viable option for buyers prioritising customisation and long-term value.

Examples

25 Palomar Parade - 3bed, 1bath, 1car, $1,372,150
45 Fordham Street - 3bed, 1bath, 3car, $1,085,000
24 Esdale Street - 3bed, 1bath, 2car, $1,300,000

Factors to Consider

Timeline: Building a new home typically takes 12-18 months, while purchasing a new property offers immediate occupancy.
Budget: While potentially more cost-effective, building requires careful budgeting to account for unexpected costs and potential delays.
Customisation: Knock-down rebuilds offer complete design freedom, allowing buyers to create a home that perfectly matches their lifestyle.
Location: Site-specific challenges and local council regulations should be carefully considered.

Making the Decision

Ultimately, the choice between buying new or building hinges on individual priorities and financial circumstances. Seeking guidance from a qualified real estate buyers agent and a reputable builder is essential to make an informed decision.

Partner with the Experts 

The team at Brisbane Buyers' Agency offers unparalleled local knowledge and a tailored approach to help buyers make informed decisions.

“Our goal is to empower buyers with the insights they need to make the best possible choice for their situation,” says Palella. “Whether you’re buying a finished home or building from the ground up, we’re here to guide you every step of the way.”

Andrew Mcleod
MegaReach Digital
+61 7 3179 6100
email us here

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